GLDW vs. BITI

Last updated Jul 14, 2026

GLDW (Roundhill Gold WeeklyPay ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - GLDW is a Derivative Income fund actively managed by State Street, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. GLDW is actively managed, while BITI is passively managed. At a correlation of -0.31, they often move in opposite directions. GLDW charges 0.99%/yr vs 1.03%/yr for BITI.

Performance

GLDW vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Gold WeeklyPay ETF (GLDW) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLDW achieves a -11.45% return, which is significantly lower than BITI's 28.75% return.

GLDW

• 1D: -3.10%
• 1M: -6.19%
• 6M: -17.89%
• YTD: -11.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDW vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
GLDW Roundhill Gold WeeklyPay ETF	-11.45%	9.36%
BITI ProShares Short Bitcoin ETF	28.75%	23.40%

Correlation

The correlation between GLDW and BITI is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	-0.31

Return for Risk

GLDW vs. BITI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLDW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLDW vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Gold WeeklyPay ETF (GLDW) and ProShares Short Bitcoin ETF (BITI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GLDW	BITI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.56	—
Sortino ratio: Return per unit of downside risk	—	2.13	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.72	—
Martin ratio: Return relative to average drawdown	—	6.78	—

Drawdowns

GLDW vs. BITI - Drawdown Comparison

The maximum GLDW drawdown since its inception was -32.25%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GLDW and BITI.

Drawdown Indicators

	GLDW	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-32.25%	-92.16%	+59.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-32.06%	-85.94%	+53.88%
Average Drawdown Average peak-to-trough decline	-11.82%	-68.34%	+56.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.11%	—

Volatility

Volatility by Period

	GLDW	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.63%	44.14%	-7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.63%	52.28%	-15.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.63%	52.28%	-15.65%

GLDW vs. BITI - Expense Ratio Comparison

GLDW has a 0.99% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

GLDW vs. BITI - Dividend Comparison

GLDW's dividend yield for the trailing twelve months is around 25.93%, more than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
GLDW Roundhill Gold WeeklyPay ETF	25.93%	3.75%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GLDW and BITI in my portfolio?

GLDW and BITI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDW or BITI?

On fees, GLDW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDW or BITI?

GLDW is cheaper with a 0.99% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, GLDW or BITI?

GLDW has the higher dividend yield at 25.93%, compared with 15.10% for BITI.

What is the main difference between GLDW and BITI?

GLDW is categorized as Derivative Income, while BITI is Cryptocurrency. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.99% for GLDW and 1.03% for BITI.